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Nestle denies receiving official notice of Centre seeking Rs 640 crore in damages

Nestle denies receiving official notice of Centre seeking Rs 640 crore in damages

Author | Abid Hasan | Wednesday, Aug 19,2015 8:35 AM

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Nestle denies receiving official notice of Centre seeking Rs 640 crore in damages

The Bombay Stock Exchange had sought clarification from Nestle India Ltd with respect to news appearing in The Times of India on August 18, 2015 titled "Maggi row: Plea for Rs 640cr from Nestle gets court nod".

The article stated, “The country’s apex consumer dispute redressal commission, NCDRC, on Monday admitted Centre’s complaint against Nestle India, seeking Rs 640 crore for its alleged unfair trade and deceptive practices pertaining to Maggi instant noodles.”

Nestle India replied to the Exchange stating, “our information on the subject is  only through media reports . As per the media reports , National Consumer Disputes Redressal Commission, New Delhi  (NCRDC) has admitted class action suit filed by the  Ministry of Consumer Affairs, Food and Public Distribution, Government of India  seeking about Rs 640 Crores in damages for alleged unfair trade practices and sale of defective goods. We have not received any official notice of the complaint and shall revert  on receipt.”

The company also said, “We are not aware of any information that has not been announced to the stock exchange, which would explain the aforesaid movement in trading.”

Centre set to seek Rs 426 crore in compensation from Nestle

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